Anheuser-Busch, an American manufacturer and maker of Michelob ULTRA, Busch Light, Budweiser, Bud Light, Cutwater Spirits and NÜTRL Vodka Seltzer, is set to acquire a majority stake in BeatBox, a rising star in the ready-to-drink (RTD) beverage category.
The transaction adds to Anheuser-Busch’s Beyond Beer portfolio, which already includes Cutwater Spirits, NÜTRL Vodka Seltzer and Phorm Energy. As a top 10 RTD brand in the industry, BeatBox brings flavors and styles that are incremental to the company’s current RTD offerings.
Brendan Whitworth, CEO, Anheuser-Busch, said: “We could not be more excited to welcome BeatBox, one of the fastest-growing RTD brands in the industry, to our portfolio.
“I have spent the past year getting to know Justin and the team at BeatBox, and I’m confident that their entrepreneurial spirit, their commitment to consistent innovation, and their ability to connect with their consumers will be a strong complement to our existing team and capabilities.
“We have a proven playbook for building winning brands, and I look forward to partnering with BeatBox and embarking on their next chapter of dynamic growth together.”
Justin Fenchel, co-founder and CEO, BeatBox, said: “When we started BeatBox in 2011, we could never have imagined the journey that lay ahead. We’ve been so fortunate to build something that truly resonates with people, and we’re incredibly grateful to everyone who has supported us along the way.
“Our long-standing relationships with the Anheuser-Busch team made this partnership feel like the right next step. With Anheuser-Busch behind us, Aimy, Brad and I are excited for the chance to accelerate our growth and continue doing what we love for years to come – bringing people together and making the world more fun!”
Anheuser-Busch is acquiring 85% of BeatBox for a purchase price of up to approximately $490 million with a path to 100% ownership after five years.